Jabil (NYSE:JBL) Announces Earnings Results, Beats Expectations By $0.10 EPS

Jabil (NYSE:JBLGet Rating) released its quarterly earnings data on Thursday. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.62 by $0.10, RTT News reports. Jabil had a return on equity of 37.88% and a net margin of 2.69%. During the same period last year, the firm posted $1.12 EPS. Jabil updated its FY 2022 guidance to $7.45-$7.45 EPS and its Q4 2022 guidance to $1.94-$2.34 EPS.

JBL traded up $0.59 during midday trading on Friday, hitting $53.61. 2,742,584 shares of the company traded hands, compared to its average volume of 874,824. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 0.68 and a beta of 1.37. Jabil has a 52-week low of $51.90 and a 52-week high of $72.11. The business has a 50 day simple moving average of $58.54 and a two-hundred day simple moving average of $61.11.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, May 13th. Jabil’s payout ratio is 5.50%.

Several equities research analysts have commented on the company. StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 15th. Citigroup lowered their price objective on Jabil from $90.00 to $80.00 in a research report on Friday. Finally, The Goldman Sachs Group lowered their price objective on Jabil from $78.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Four equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Jabil has a consensus rating of “Buy” and an average target price of $75.67.

In other news, CEO Mark T. Mondello sold 12,000 shares of the firm’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $62.20, for a total value of $746,400.00. Following the transaction, the chief executive officer now directly owns 2,055,589 shares of the company’s stock, valued at $127,857,635.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anousheh Ansari sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $62.00, for a total transaction of $217,000.00. Following the completion of the transaction, the director now directly owns 37,400 shares in the company, valued at $2,318,800. The disclosure for this sale can be found here. Company insiders own 2.59% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Mirabella Financial Services LLP purchased a new position in Jabil during the first quarter worth about $393,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Jabil during the first quarter worth about $350,000. Beacon Pointe Advisors LLC raised its stake in Jabil by 5.3% during the first quarter. Beacon Pointe Advisors LLC now owns 5,583 shares of the technology company’s stock worth $345,000 after purchasing an additional 283 shares during the period. Loomis Sayles & Co. L P purchased a new position in Jabil during the first quarter worth about $335,000. Finally, Ethic Inc. raised its stake in Jabil by 26.9% during the first quarter. Ethic Inc. now owns 4,810 shares of the technology company’s stock worth $297,000 after purchasing an additional 1,019 shares during the period. 79.69% of the stock is currently owned by institutional investors.

About Jabil (Get Rating)

Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).

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Earnings History for Jabil (NYSE:JBL)

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